Global technology giant Google is inching ever closer to finalizing a deal that will allow them to build a new UK headquarters at King’s Cross, according to the Daily Telegraph.

The firm is said to be willing to pay more than £550 million for the site after the newspaper’s sister publication – the Sunday Telegraph – revealed last year that it was in talks to open a new 700,000 square foot site in the area. Just to put that in perspective, that’s bigger than the Colosseum in Rome. Yeah.

An article published today by Property Week (although it’s behind a paywall, boo!) suggests that Google is hoping to complete the deal at King’s Cross Central, a multi-billion pound development area in central London, before Thanksgiving Day in the United States.

The publication’s report also states that Google will buy the area with a 999-year lease. In other words, until the end of time, or thereabouts.

Google would undoubtedbly be the biggest and most high profile company to move to the redevelopment site behind King’s Cross station, provided it goes ahead as planned.

A report in the London Evening Standard from earlier this year said that Google will leave its current offices at 123 Buckingham Palace Road once its lease runs out in 2016, but keep its new startup hub over in east London.

The newspaper also understands that Google’s new office will be a group of five buildings, most likely imitating the campus aesthetic and atmosphere proved popular over in Silicon Valley. Albeit with a lot more rain, and a lot less sunshine.

If the deal goes through as planned, Google could be moving to their new offices as soon as 2015 – one year before their current lease at Buckingham Palace Road runs out. Maybe they’ll pull straws to find out who has to stay behind?

If Google does indeed move its headquarters to the land behind King’s Cross Station, it will be a massive boost to London’s hopes of becoming the next Silion Valley. Although the well-known and highly regarded Silicon Roundabout has already been sucessful in attracting new technology startups to the area, it is still missing a few of the more high profile names that technology enthusiasts have come to expect.

Google has already invested heavily in London, and clearly feels that its foothold in the capital has been successful enough to warrant further expansion.

We reached out to Google, who said: “Google does not comment on rumour or speculation.”